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Ob/Gyn practice value?

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longinthetooth31

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If anyone could shed some light for me, I'd much appreciate it!
I'm not a doctor, but my father is Ob/Gyn. He's 70 years old and has been practicing for 47 years. He has his own practice and was working up until a month and half ago when he collapsed. He's going to be out of work for the next 5 months. I thought it would be a good idea for him to retire now and sell his practice, but he tells me that his practice is not worth anything. Is this true?? I'm a dentist and I know when dentists sell their practices it has a value, but he is telling me that his practice will not sell for anything. It's hard to wrap my head around that.
 

cpants

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I am sure it is worth something, but not much. Basically, it is worth the value of the equipment and property he owns, the accounts receivable, and not much more. The value of a practice is really the doctor.

The idea that a medical practice is worth something based on reputation, established patient base, etc., is not true in most cases. Mostly that was an antiquated idea used by older docs to try and force younger docs to "buy-in" to the practice. Basically, a pyramid scheme taking advantage of younger docs. No one is doing that anymore in most specialties.
 

npappasan

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He's been practicing since he was 23??? Graduated college at 15?
 
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